Action Insight Mid-Day Report 9-14-20

NZD Mildly Higher on Lockdown Exit, Yen Awaits Breakout

Action Insight Mid-Day Report 9-14-20 Sterling Recovers Mildly ahead of an Eventful Week, Dollar Treads Water Trading in the forex markets remain generally subdued for now. While US stocks are set for a rebound, currency traders are not to bothered with that. Sterling is so far the stronger one for today, as traders take profits on shorts, ahead of of the string of UK data, BoE and Brexit developments. Australian Dollar is currently the weaker one, awaiting tomorrow's RBA minutes. Dollar is also struggling mildly. Technically, while the Pound recovers, there is no clear indication of bottoming yet. We'd expect further fall in the Pound as long as 1.3035 minor resistance in GBP/USD, 138.38 minor resistance in GBP/JPY and 0.9067 minor support in EUR/GBP hold. As for Dollar, we might not see some sustainable, committed move, until USD/JPY breaks out of range of 105.10/107.05. In Europe, currently, FTSE is up 0.23%. DAX is up 0.07%. CAC is up 0.05%. Germany 10-year yield is down -0.010 at -0.488. Earlier in Asia, Nikkei rose 0.65%. Hong Kong HSI rose 0.56%. China Shanghai SSE rose 0.57%. Singapore Strait Times dropped -0.30%. Japan 10-year JGB yield dropped -0.0018 to 0.021. Full Report Here ECB Makhlouf: Demand factors will dominate and lead to a fall... Eurozone industrial production rose 4.1% mom in Jul, strong rise in... Germany's economic catch-up process slows Suga won landslide victory in LDP leadership votes, paving way to... New Zealand to lift restrictions on Sep 21, except in Auckland,... EU Barnier and UK Frost in twitter war on IE/NI protocol ECB Lagarde: Incoming data show a strong recovery, but uneven, uncertain... Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol BOE Preview – BOE to Signal More Easing on Weak Recovery... FOMC Preview – Policy Incorporating Average Inflation Targeting. New Economic Forecasts... CFTC Commitments of Traders – NET LENGTH for Crude Oil has... Central Bank Views | China Watch | Oil N' Gold | Special Topics GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.2753; (P) 1.2809; (R1) 1.2853; More.... Intraday bias in GBP/USD is turned neutral as it lost down side momentum as seen in 4 hour MACD. Further decline remains in favor with 1.3035 minor resistance intact. Decisive break of 38.2% retracement of 1.1409 to 1.3482 at 1.2690 will argue that the rise from 1.1409 might be completed, and bring deeper fall to 61.8% retracement at 1.2201. Though, break of 1.3035 will suggest that decline from 1.3482 is merely a corrective move, and turn bias back to the upside for retesting 1.3482. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings AUD/USD Calm ahead of RBA Minutes U.S. Futures in Tentative Rebound – Watch NVDA, GILD, ORCL AUD/USD Pair Started Consolidating In A Broad Range Below 0.7300 Oil Under Pressure, Gold Stays Steady US 500 Index Sends Recovery Signals, Buyers Await Above 100-SMA AUDUSD Moves Horizontally Above The Bullish Cross Of SMAs Currency Markets Stuck In Neutral Pass Me Some Suga EURUSD Edges Sideways, Advances Could Be On The Cards Gold's Next Action Could Occur Outside The Triangle Another Dose Of Vaccine Optimism Calms Market Nerves Risk Assets Push Higher On Vaccine Hopes, Eyes On The Fed Fundamental Analysis | Technical Analysis In-depth Reports Are We Chasing Inflation Ghosts? ECB Upbeat about Recovery, Resorted to Verbal Warning of Strong Euro September Flashlight for the FOMC Blackout Period Gold Pressured by Better Data, Stronger USD and Yields Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 4:30 JPY Tertiary Industry Index M/M Jul -0.50% 0.60% 7.90% 4:30 JPY Industrial Production M/M Jul F 8.70% 8.00% 8.00% 9:00 EUR Eurozone Industrial Production M/M Jul 4.1% 2.80% 9.10% 9.5%

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